BUSINESSES AS THEY ARE

Before I move on to lean, I thought we should be clear of the purpose of doing business and the basic parameters on which it should stand.

The primary objective of a business is to provide a solution to a need and earn a profit out of it. Simple on the face of it. But, in real life, there are plenty of variables and factors that either aid or impede our objectives.

Businesses have to ensure that they are capable of establishing three key parameters– Growth, Profits, Sustenance. (GPS). Without all the three, a business just cannot sustain.

Shown below are the typical challenges faced manufacturing enterprises:

We have experienced these challenges and have often overcome them through our own knowledge and experience. But with increasing demands from the customer and stiff competition having become a constant, traditional methods may not suffice to consistently maintain a winning position in the race for success.

In many cases, we have to learn a new way of thinking, a new approach to identifying, assessing and resolving problems. This is where LEAN THINKING comes in. Concepts like VOB (Voice of Business), VOC (Voice of Customer), VOP (Voice of Process), TEI (Total Employee Involvement) are transmuted from ideas to ground level practice through LEAN methodology.

I will share more on what I learnt next week.

Last week's link: https://www.dhirubhai.net/pulse/my-learning-lean-basics-sridhar-j

LEAN MURALI, my mentor in understanding LEAN, has a magnificent mission. His mission is to help one million young professionals become Lean Champions. Towards this, he conducts a weekly one hour online Knowledge Sharing Session where he explains Lean, Six Sigma concepts in a simple manner that is easy follow. He believes that spreading knowledge to hungry minds is no less than donating blood or feeding the poor. This is absolutely FREE and anyone can participate. Those interested in these free live sessions can opt to register through the following link:

https://bit.ly/LOP-JS

You can also share this link with any of your friends who may be interested and can benefit from it.